Work out fire insurance premium instantly with clear inputs, formula shown and shareable results.
Fire insurance is rated per mille of sum insured, with the rate driven by the occupancy hazard class. Add-on perils such as storm, flood and earthquake load the rate, while installed protection — sprinklers, hydrants, detection — earns a substantial discount.
Base premium
Base = Sum insured x Occupancy rate per mille / 1,000
Premium
Premium = Base x (1 + Add-on perils %) x (1 - Protection discount %)
Indicative estimate only. Fees, entitlements, limits and formulas vary by jurisdiction, statute, policy wording and the facts of the case. This is not legal, tax, insurance or financial advice — confirm with a qualified professional or the relevant authority.
Because ignition sources and fire load differ enormously. A timber workshop can be five times the rate of an office in the same building type.
Often yes, through premium discount alone over several years, before counting the reduction in actual loss and business interruption.